Movement Alert｜Lao Pu Gold Falls 3.53% in Regular Trading, Gold Price Deep Correction and High Premium Customer Loss Extend Selloff

Market Focus06-16

On June 16, Lao Pu Gold fell 3.53% in regular trading, trading at 468.8 HKD/share, with turnover of 84.03 million HKD, extending its recent downward trend.

On the news front, international gold prices continued their deep correction, with spot gold retreating over 27% from its yearly high, erasing all gains accumulated since the beginning of the year, putting broad pressure on the gold jewelry sector. Citi previously slashed Lao Pu Gold's target price from 1,162 HKD to 700 HKD, a cut of nearly 40%, citing that the company's premium over traditional gold jewelers has exceeded 55% following its February price hike. The bank noted that Tmall 618 promotional performance was weaker than expected, and that the high premium has led to price-sensitive customer attrition, with nationwide store sales in March and April declining approximately 30% year-over-year. Short-term market sentiment remains cautious.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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